What Is Financial Planning?

Financial planning is the process of meeting your financial goals through the proper management of your finances. Financial goals can include buying a home, savings for your child’s education, planning for your retirement or estate planning.

Walmor helps you to work out on where you are now, what you may need in the future and what you must do to reach your goal by the process that involves gathering relevant financial information, setting financial goals, examining your current financial status and coming up with a strategy for a plan on how you can meet with your goals, and map the gap.

Benefits Of Financial Planning:

Financial planning provides direction and meaning to financial decisions. It allows the client to understand how each financial decision they make affects other areas of their finances.

For eg. Buying a particular investment product might help them pay of their mortgage faster or it might delay the retirement significantly. By viewing each financial decision as part of the whole the client can consider its short and long term effects on their life goals. The client can also adopt more easily to life changes and feel more secure that their goals are on track .

You Pay For It Because:

You want to engage the services of a qualified professional and ensure quality advice.
You save money when you avoid making wrong investment decisions.
Financial plan precedes any advice on products and to that extent, is completely unbiased.
You put your trust in the hands of an expert and your mind at ease.

Our Process

Our approach to financial planning is simple and straightforward. However, it is also important that you fully understand our consultative process and our step by step approach.

Evaluate Current Position

This is the first stage of our interaction. It involves evaluating your current situation which includes cash flow analysis, calculating your net worth, reviewing your insurance coverage for life, disability, home, auto, health etc.

Identify Goals

We then go about clearly establishing the objectives of the financial plan so that, several goals can be balanced. The goals could be short, medium or long-term and could include child’s education, marriage, your retirement etc.

Work Out the Plan

We then work out a clear strategy in line with your objectives and risk tolerance. Drawing up a winning asset allocation so that your financial goals are met is fundamental to a successful plan.

Implement the Plan

We will assist you in the process of implementing the plan by suggesting the optimal mix of products and services that are essential for the success of the plan.

Report Periodically

Once the plan is implemented we will monitor the progress on an on-going basis. We will periodically report the progress and measure the results achieved vis-à-vis the plan.

Review & Rebalance

Financial planning is a dynamic process. We will annually review the plan and progress made, to see if any modifications are required due to changes like inheritance, change in job status, birth or death in the family etc.

CFPCM stands for CERTIFIED FINANCIAL PLANNERCM and CM for Certification Mark marks which help you identify Financial Planners who are committed to competent and ethical behaviour when providing Financial Planning services. It is a global certification which is practiced across the world.

A financial planner or personal financial planner is a practicing professional who prepares financial plans for people covering various aspects of personal Finance.

The work engaged in by this professional is commonly known as personal financial planning. In carrying out the planning function, s/he is guided by the financial planning process to create a financial plan; a detailed strategy tailored to a client’s specific situation, for meeting a client’s specific goals.

In general usage, a financial plan is a series of steps or goals used by an individual or business, the progressive and cumulative attainment of which is designed to accomplish a financial goal or set of circumstances, e.g. elimination of debt, retirement preparedness, etc.

The Financial Planning process consists of the following basic six steps:

Establishing and defining the client-Planner relationship
Gathering client data, including goals.
Analysing and evaluating your financial status.
Developing and presenting Financial Planning recommendations and/or alternatives.
Implementing the Financial Planning recommendations.
Monitoring the Financial Planning recommendations.
The personal finance includes

• Education Planning

• Retirement Planning

• Investment Planning

• Risk Management

• Insurance Planning

• Tax Planning

• Estate Planning

• Cash flow management

• Business succession planning (for business owners).

Financial Planning services provided by Certified Financial PlannersCM, also few Certified Investment / Certified Financial Advisors provide financial planning Service in Pune.

To verify that your planner is a CFPCM (CERTIFIED FINANCIAL PLANNERCM) Licensee by the FPSB, visit their website at www.fpsbindia.org

One Thought on “Financial Planning”

  • I am a retired person.I would like to invest my retirement benefits according to my need profile and
    create a portifolio

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